Question

b. Cost of oil lubricants for factory machinery Cost of wages of assembly worker, Salary of plant supervisor Salary of district sales supervisor e. Which of the following costs is referred to as conversion cost? a. Direct materials cost and factory overhead cost b. Direct labor cost and factory overhead cost Direct materials cost and direct labor cost Factory overhead cost e. Direct labor cost The two basic accounting systems that may be used by manufacturers are: a. general accounting and inflation accounting systems general accounting and cost accounting systems cost accounting and replacement cost accounting systems cost accounting and general price-level accounting systems e. none of the above Which of the following systems provides for a separate record of the cost of each particular quantity of product that passes through the factory? . Process cost system Job order cost system General cost system Replacement cost system All of the above The details concerning the costs incurred on each job order are accumulated in a subsidiary ledger known as the:

Answer 1

1) Solution: direct labor costs and factory overhead costs

Explanation: Conversion costs are those expenses which are spent to transform raw materials into finished goods, which means the direct labor and factory overhead.

2) Solution: none of the above

Explanation: The two main cost accounting systems by manufacturers are job order cost and process cost systems

3) Solution: Job order cost system

Explanation: The job order cost system gives a separate record of the cost of each specific quantity of good